Since late last week, investors have digested a raft of positive news from major economies: additional monetary stimulus in Europe, a solid U.S. jobs report for May, stronger first quarter growth in Japan and an improvement in China's exports.

Demand for natural gas is set to nearly double within five years in China but the emerging market giant will meet half that with domestic supplies, the International Energy Agency said Tuesday.

In its latest medium-term forecasts for the natural gas sector, the IEA trimmed its five-year outlook for consumption by 0.2 points to an annual increase of 2.2 percent as European countries step up use of renewable energy.

China's annual inflation rose sharply in May to its highest level in four months, official data showed Tuesday, easing concerns about deflationary risks in the world's second-biggest economy.

The consumer price index increased 2.5 percent year-on-year last month, accelerating from 1.8 percent in April, the National Bureau of Statistics said in a statement. It was the highest figure since January also saw CPI rise 2.5 percent.

Apple's resurgent stock may have as much to do with financial engineering as the company's technological wizardry.

In late April, the iPhone and iPad maker announced plans to split its stock for the first time in nine years. Since then, Apple's stock has climbed 23 percent, creating more than $100 billion in shareholder wealth while the Standard & Poor's 500 edged up just 4 percent.